Common use of EXPIRY OF THE COLLECTIVE AGREEMENT Clause in Contracts

EXPIRY OF THE COLLECTIVE AGREEMENT. 5.1 Upon the expiry of this Collective Agreement or any extension thereof, the Council in office at the time or the trustee or trustees appointed by the Registrar of Labour Relations shall continue to administer the Funds for a period of at least two years in order to pay out benefits due to the beneficiaries and, subject to the approval of the Registrar of Labour Relations, any money standing to the credit of the Funds after the said period of at least two years shall accrue to the general funds of the Council. 5.2 If upon expiry of the said period of at least two years, the affairs of the Council have already been wound up and its assets distributed, the balance of the Funds shall be distributed in terms of the provisions of the Council’s Constitution.

EXPIRY OF THE COLLECTIVE AGREEMENT. 5.1 6.1 Upon the expiry of this Collective Agreement or any extension thereof, the Council trustees in office at the time or the trustee or trustees appointed by the Registrar of Labour Relations shall continue to administer the Funds Fund(s) for a period of at least two years in order to pay out benefits due to the beneficiaries and, subject to the approval of the Registrar of Labour Relations, any money Relations and moneys standing to the credit of the Funds Fund(s) after the said period of at least two years shall accrue to the general funds of the Council. 5.2 6.2 If upon expiry of the said period of at least two years, the affairs of the Council have already been wound up and its assets distributed, the balance of the Funds Fund(s) shall be distributed in terms of the provisions of the Council’s Constitution.